What are the foundation stones from which economic models are built?
A) economic policies
B) legal systems
C) assumptions
D) statistical forecasts

Question

Quizplus · Accepted Answer

Economic models are built upon assumptions about the behavior of individuals, firms, and governments in an economy. These assumptions form the foundation stones upon which economic theories and models are built. Economic policies, legal systems, and statistical forecasts may be incorporated into these models, but they are not the foundation stones themselves.

What Are the Foundation Stones from Which Economic Models Are